194la - compulsory land acquisition - how to file it ?
This query is : Resolved
17 June 2015
One of our client's property was acquired by Govt Highway authority in last year March 2014 by deducting TDS u/s 194LA Rs. 65,000 and paid the remaining amount Rs. 5,90,000. The sale deed was prepared and registered on March 2014 (A.Y. 2014-15) for the said value Rs. 5,90,000. Our client was unaware of TDS deducted. Now TDS was deposited into my client's account in December 2014 (A.Y. 2015-16). He has invested in another property to get exemption u/s 54.
Now in which AY do we need to file the Income tax for him to get the claim ?
Now in which AY do we need to file the Income tax for him to get the claim ?
CA Mohit Bansal
(Expert)
17 June 2015
Hi,
You can claim exemption in AY 15-16, since TDS was deposited in the year 14-15
You can claim exemption in AY 15-16, since TDS was deposited in the year 14-15
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